Italy Inflation January 2019

Italy: Inflation falls in January on cooling energy prices

February 4, 2019

According to provisional data released by the National Statistical Institute (ISTAT) on 4 February, consumer prices rose 0.1% month-on-month in January, contrasting December’s 0.1% decline. The figure reflected higher prices for food and non-alcoholic beverages, as well as for housing, water, electricity, gas and other fuels, which more than offset lower prices for non-regulated energy products, and for clothing and footwear. Meanwhile, inflation came in at 0.9% in January, below December’s 1.1% print, and the lowest print since April 2018.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, remained unchanged from the previous month in January, following December’s 0.2% increase. Meanwhile, core inflation inched down to 0.5% in January from December’s 0.6%, and harmonized inflation decreased to 0.9% from December’s 1.2%.

Italy Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation of 1.5% in 2019, which is unchanged from last month’s projection. For 2020, panelists expect inflation to average 1.7%.

GDP growth was flat in the second quarter over the previous period in seasonally- and working-day adjusted terms, according to a second estimate released by Italy’s Statistical Institute (ISTAT) on 30 August.

The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, market services and retail sectors—fell to 98.9 points in August from July’s 101.2 points, which had marked the best result in nine months.
August’s reading came on the back of a broad-based deterioration in all the sectors covered by the index.

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